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The South Korea cloud kitchen market size reached a value of more than USD 5.6 billion in 2022. The South Korea cloud kitchen industry is expected to grow at a CAGR of 12.4% between 2023 and 2028, reaching a value of USD 6.8 billion by 2028.
A cloud kitchen, sometimes known as a "ghost kitchen" or "virtual kitchen," is a commercial cooking area that allows food enterprises to cook food items for delivery and takeaway. Cloud kitchens, as opposed to traditional brick-and-mortar sites, enable food enterprises to make and transport cuisines with minimum overhead.
Utilizing cloud kitchens helps food companies cut costs. Leasing a commercial kitchen from a ghost kitchen supplier lowers initial costs because food enterprises no longer have to invest in building permits, costly building construction, zoning compliance, and so on. In addition, cloud kitchens enable food enterprises to launch quickly, as compared to the months or years needed for conventional leases or construction financing.
In the case of Cloud kitchens, preparing food and business operations may be conducted even from home or in regions with reduced property prices. Because of their flexibility, cloud kitchens can save a lot of money, which is beneficial for industries with narrow profit margins like restaurants. This factor bolsters the development of cloud kitchen market in South Korea.
Chefs, a few assistants, and domestic helpers are all that are required to run a cloud kitchen. When compared to a regular restaurant, this significantly reduces total personnel costs. increased profit margins owing to lower costs while revenue remains constant, resulting in more effective marketing opportunities. Many restaurants have switched to the cloud kitchen concept in recent years since it requires fewer staff and has lower overhead expenses. Many amateur restaurateurs in South Korea have recently adopted the concept of cloud kitchens because it reduces the costs of starting a cuisine business, thereby augmenting cloud kitchen market development.
Moreover, companies like Samsung and LG, among others, have launched several technologically advanced kitchen appliances that make everyday chores easy by providing information and tips. Many steps of cooking can now be done automatically by these smart appliances, reducing preparation time and making the process hassle-free and quick.
Hectic lifestyles and poor work and personal life balance lead people to opt for affordable and convenient food delivery options. Moreover, increasing health concerns have shifted people's preference from packaged ready-to-eat food to freshly prepared food. Also, the ease of availability due to online food delivery is perhaps one of the most defining drivers which are contributing to the growth of the cloud kitchen market in South Korea. Furthermore, the high penetration of the internet and increased smartphone usage further propels the cloud kitchen market in South Korea.
To save time and money, young professionals, especially the MZ generation prefer to order from outside rather than prepare or eat out. Because of the expansion of the online meal delivery service, the cloud kitchen restaurant sector can now earn greater profits while not owning a walk-in storefront.
Globalization has changed the eating patterns and habits of the South Korean population. Consumers have developed a broad taste palette and prefer to try various cuisines from all over the world along with their local Korean foods. Consumers now prefer foods that are both nutritionally adequate and appealing to taste buds. Rising disposable income and living standards are other factors aiding the growth of the cloud kitchen market in South Korea.
Based on type, the South Korea cloud kitchen market is segmented into independent cloud kitchen, commissary/shared kitchen, and kitchen pods. Based on product type, the South Korea cloud kitchen market can be bifurcated into burger and sandwich, pizza and pasta, seafood, and chicken, among others. On the basis of nature, the cloud kitchen market of South Korea is divided into franchised and standalone.
The growing prevalence of doorstep food delivery systems and the increased demand for local as well as western cuisines are majorly driving the cloud kitchen market in South Korea. Independent cloud kitchen, commissary/shared kitchen and kitchen pods all three segment types are expected to perform well in the market. Factors such as long working hours, hectic lifestyles, awareness regarding healthy food options and increasing health concerns among people are providing significant impetus to the growth of the segments as well as the market in South Korea.
Globalisation has led to improved access to foods from diverse regions around the world. This factor is further influenced by the increasing purchasing power and the surge of franchises of several global food giants. The increased use of social media and food delivery applications is aiding in making communication and ordering food easier. Western food especially, burger and sandwich, pizza and pasta, seafood, and chicken, among others are the most preferred food items among South Korean population, aiding to the growth of cloud kitchen market in South Korea.
The number of single-person households is rapidly increasing in South Korea. This "Honjok," i.e., living alone lifestyle, has led to an increased acceptance of "Honbap," i.e., eating alone culture, in South Korea, which has taken away the responsibility of preparing food for themselves as well as the family members. Due to their hectic lifestyles and increased affordability, the young generation, especially students, are the most significant customers of franchised as well as standalone businesses, thereby aiding the expansion of the cloud kitchen industry in South Korea.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Type||
|Breakup by Product Type||
|Breakup by Nature||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Cloud Kitchen Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Cloud Kitchen Historical Market (2018-2022)
8.3 South Korea Cloud Kitchen Market Forecast (2023-2028)
8.4 South Korea Cloud Kitchen Market by Type
8.4.1 Independent Cloud Kitchen
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.4.2 Commissary/Shared Kitchen
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.4.3 Kitchen Pods
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5 South Korea Cloud Kitchen Market by Product Type
8.5.1 Burger and Sandwich
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.5.2 Pizza and Pasta
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.6 South Korea Cloud Kitchen Market by Nature
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Ghost Kitchen
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 Simple Project Company Co., Ltd (WeCook)
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 Monthly Kitchen Co., Ltd
10.1.3.1 Company Overview
10.1.3.2 Product Portfolio
10.1.3.3 Demographic Reach and Achievements
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Cloud Kitchen Market: Key Industry Highlights, 2018 and 2028
2. South Korea Cloud Kitchen Historical Market: Breakup by Type (USD Million), 2018-2022
3. South Korea Cloud Kitchen Market Forecast: Breakup by Type (USD Million), 2023-2028
4. South Korea Cloud Kitchen Historical Market: Breakup by Product Type (USD Million), 2018-2022
5. South Korea Cloud Kitchen Market Forecast: Breakup by Product Type (USD Million), 2023-2028
6. South Korea Cloud Kitchen Historical Market: Breakup by Nature (USD Million), 2018-2022
7. South Korea Cloud Kitchen Market Forecast: Breakup by Nature (USD Million), 2023-2028
8. South Korea Cloud Kitchen Market Structure
In 2022, the South Korea cloud kitchen market attained a value of nearly USD 5.6 billion.
The market is projected to grow at a CAGR of 11.0% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 6.8 billion by 2028.
Increasing health concerns, a growing inclination toward freshly prepared food, high internet and smartphone penetration, rising disposable income, increasing acceptance of “Honbap” and “honjok” lifestyles and a high standard of living are the key drivers.
Low start-up and business operations costs, the surge of smart kitchen appliances, globalisation, and low manpower requirements are the key trends in the South Korea cloud kitchen market.
The dominant types of cloud kitchen in the industry are burger and sandwich, pizza and pasta, seafood, and chicken, among others.
The major players in South Korea cloud kitchen industry are Ghost Kitchen, Simple Project Company Co., Ltd (WeCook), and Monthly Kitchen Co., Ltd, among others.
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